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5/9/24, 4:06 PM UAE participates in third Arab Economy and Cooperation Forum with Central Asian States & Azerbaijan to explore promising econo…
by effectively capitalizing on the opportunities and strengths enjoyed by Arab countries,
Central Asian States and Azerbaijan.

H.E. continued: "In light of the current global economic challenges, we believe it is

important to strengthen cooperation in new and sustainable economic sectors, especially
technology, artificial intelligence, digital transformation and advanced applications.

Tourism, circular economy, green economy, entrepreneurship, and other future sectors

are also equally important. We should also consider exploring new mechanisms that
contribute to facilitating tourism flows between the countries participating in the Forum.

This will promote sustainable tourism development in both regions by exploiting the
tourism potential of all our countries.”

Furthermore, the Minister of Economy elaborated on the UAE’s vision to foster the growth

and sustainability of the tourism and aviation sectors, including the launch of UAE Tourism
Strategy 2031, which aims to raise the sector’s contribution to the GDP to AED 450 billion,

and strengthen the UAE’s position as one of the best global tourism destinations by the
next decade. The national Aviation Decarbonization Roadmap, which seeks to achieve an

annual production of up to 700 million liters of sustainable fuel (SAF) by 2030, was also

highlighted.

In addition, H.E. highlighted the UAE’s strong commitment to pursuing collaborative

efforts, thus contributing to achieving the goals set by the third session of the forum. These

include the development of tourism exchanges between Arab countries, Central Asia and
Azerbaijan through facilitating cooperation between relevant tourism organizations and

entities. The strengthening of cooperation in land, sea and air transport sectors through
joint projects and initiatives, besides sharing best practices and experiences in such vital

sectors are also focus areas.

Furthermore, H.E. Bin Touq underscored the UAE’s readiness to share its experience in
facing water scarcity challenge, as the country gained global status in managing its water

resources and devising proper solutions, especially after hosting COP28, which placed
water security on top of its agenda.

In this context, the participants welcomed the Mohamed bin Zayed Water Initiative

(MBZWI), launched in the UAE to increase awareness on the importance of the water
scarcity crisis and its critical effects at the international level. It also accelerates the

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